Give them the minimum required non-renewal advance notice and be done with it.

Thank you in advance. 

Thanks in advance!

Thank you in advance for your guidance and recommendations!

Whichever strategy that you choose, run your numbers, and definitely consider all the other benefits of owning real estate i.e. appreciation, loan pay-down, potential housing expense decrease and/or cash flow. 

Im looking at 7% however I think a better safe guard for me to have enough skin in the game is to move the sales price higher just in case he decides to pay off the loan earlier.

If you have experience or insights to share, I'd greatly appreciate your input.As always, thank you in advance for your assistance!

are you planning on keeping the private money loan for the long haul or are you going to refinance once rehabbed/rented?

@Beth Anderson, You can use a FHA 203k loan to wrap renovations into the loan.

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